News Briefs

Aug 1, 2019

✦ The average monthly premium for basic Medicare Part D coverage will decline for the third year in a row to a projected $30 in 2020, according to new estimates from CMS. The basic Part D premium rose between 2013 and 2017, when it peaked at $34.70 and began declining, CMS said on July 30. Meanwhile, the 2020 Part D national average monthly bid amount, which is a weighted average of the standardized bid amounts for each Part D plan, is $47.59, compared with $51.28 for 2019, estimated CMS. And the base beneficiary premium, which is the product of the beneficiary premium percentage and the national average bid amount, is projected to be $32.74, down from $33.19. View the 2020 bid-related information at https://go.cms.gov/2ytp61K.

To access this post, you must purchase a subscription plan. Click Here to purchase.